HighPoint Advisor Group LLC Sells 592 Shares of Micron Technology, Inc. (NASDAQ:MU)

HighPoint Advisor Group LLC reduced its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,478 shares of the semiconductor manufacturer’s stock after selling 592 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Micron Technology were worth $1,931,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Trivant Custom Portfolio Group LLC increased its position in Micron Technology by 20.0% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock valued at $50,000 after purchasing an additional 100 shares during the period. Xcel Wealth Management LLC boosted its stake in shares of Micron Technology by 1.8% in the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock valued at $518,000 after purchasing an additional 108 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in shares of Micron Technology by 3.8% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer’s stock worth $250,000 after buying an additional 108 shares during the period. Lebenthal Global Advisors LLC increased its position in shares of Micron Technology by 1.5% during the fourth quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer’s stock worth $629,000 after buying an additional 114 shares during the period. Finally, Hazlett Burt & Watson Inc. raised its stake in Micron Technology by 1.1% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 10,481 shares of the semiconductor manufacturer’s stock worth $883,000 after buying an additional 119 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the transaction, the executive vice president now directly owns 164,769 shares of the company’s stock, valued at $15,847,482.42. This trade represents a 8.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the transaction, the director now directly owns 27,358 shares in the company, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

Micron Technology Stock Down 1.8 %

Shares of NASDAQ MU opened at $86.89 on Tuesday. The business’s fifty day moving average price is $95.62 and its 200-day moving average price is $98.51. Micron Technology, Inc. has a one year low of $83.54 and a one year high of $157.54. The stock has a market capitalization of $97.11 billion, a PE ratio of 25.04 and a beta of 1.23. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75.

Micron Technology (NASDAQ:MU) last issued its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same quarter last year, the business earned $0.42 earnings per share. The company’s quarterly revenue was up 38.2% on a year-over-year basis. On average, equities research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is presently 11.03%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Wells Fargo & Company decreased their price target on Micron Technology from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Piper Sandler decreased their target price on Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Citigroup dropped their price target on Micron Technology from $150.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Needham & Company LLC reduced their price objective on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, Mizuho dropped their target price on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.76.

Micron Technology Company Profile

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.